Exports Rebound to Five-Month High

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It was a rough winter. There is no doubt about it and now leaders in the steel industry are pointing to that blistery white stuff for the slow start to the year. The good news is, flowers are blooming and exports are booming.. well, in comparison to February 2014. At Leveltek, we are excited to see a five-month high after numbers came back showing a great March.

Steel experts are also pointing to a recovery in deliveries in Canada and Mexico. According to the Daily American Metal Market (AMM), exports of all products to Canada rose 17.2 percent from the prior month, while products to Mexico gained 13.6 percent.

Richard Chriss, executive director of the American Institute for International Steel said in a statement: “The strong recovery in steel exports to Canada and Mexico in March bodes well for the next several months, as it indicates that the slow start to the year had much to do with snow-related logistical problems. In addition, a strong showing in major developing countries could indicate that U.S. steel is becoming more of a factor outside North America. This trend could accelerate if the situation in Ukraine leads to tighter sanctions on Russia,”

According to data from the U.S. Commerce Department’s Enforcement and Compliance division mill product exports rose 15 percent from February but were 5.5 percent below March 2013.

In fact, the monthly gain was largely due to increases in exports for hot-rolled sheet (up 49.5 percent), coiled plate (up 25.4 percent) and hot-dipped galvanized sheet and strip (up 24.6 percent).

 

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